Tax – US

IRA Basics

IRA – U.S. “Individual Retirement Account” opened on your own vs a 401K opened by your employer. Traditional IRA – Deductible from your income on your tax return under certain conditions if your age is less than 70 1/2. Roth … Continue reading

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US Citizen living in Canada or abroad tax implications

As a US Citizen residing in Canada or another foreign country you may not be aware of the US IRS tax implications you face.  You are required to report your personal world wide income on your US personal 1040 tax … Continue reading

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Investing in Property in the US – ask your questions and watch for the answers…

Do I have to file a US tax return? Only if you want to claim your rental business and claim expenses to offset your rental income.  Be wary that you must take depreciation in the US whereas in Canada it … Continue reading

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